Inflation Now Causing Hardship for Majority in U.S.

A majority of Americans, 56%, now say price increases are causing financial hardship for their household, up from 49% in January and 45% in November, Gallup reports. The latest reading includes 12% who describe the hardship as severe and 44% as moderate.

Although more Americans now than last fall say they are experiencing hardship, the percentage who are suffering severe hardship has held relatively steady at around 10%. Lower-income Americans are more likely than others to be experiencing severe hardship -- 26% of those whose annual household income is less than $48,000 say prices are causing severe hardship for their families. That compares with 12% of middle-income Americans and 4% of upper-income Americans.

Lower-income Americans are about as likely now as last fall to say they are experiencing either severe or moderate hardship -- 74%, compared with 70% in November, Gallup reported.

Middle-income (63%) and upper-income (40%) Americans remain significantly less likely than lower-income Americans to say they are experiencing hardship. However, sharply more middle- and upper-income Americans are struggling now than were last November. The increase has been greater among middle-income Americans -- up 17 percentage points -- than among upper-income Americans -- up 12 points.